Tuesday, May 16, 2006

2p coins now worth 3p

Britain's 2p coins are now actually worth 3p - thanks to the soaring price of copper.

Any 2p coins made before 1992 are now more valuable as scrap metal than loose change.

Earlier 2p coins contain 97% copper which has hit an all-time record price of $8,000 a tonne.

It means that 145,000 2p coins would be worth £2,900 at the bank - but about £4,400 as scrap.

One penny coins from the same period are also worth roughly 50% more than their face value.

in 1992, the Royal Mint introduced new 1p and 2p coins made of steel with just a thin copper plating.

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